The rise in house prices is not a sign of the end of the recession but a sign of worse to come.

This rise in prices is due to serious shortage of supply.Few houses are being built and virtually no new lots are being produced and no developer is contemplating new residential subdivision in auckland because of the high costs and uncertainties.we still do not understand that rising prices are not signs of growth but as in this case can be a sign of lack of growth.Growth is about production - not about planners stiffling growth with their dense thinking policies.